The Global Thermal Management Market for ADAS, 2023-2033: Semi-Autonomous Vehicles Emerge as a Major Segment


Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Thermal Management Market for ADAS: A Global and Regional Analysis, 2023-2033" report has been added to ResearchAndMarkets.com's offering.

This report provides a detailed global and regional analysis for the period of 2023-2033. The report delves deeply into the pivotal role of thermal management in supporting the functionality and longevity of ADAS sensors within the automotive industry.

The market, valued at $151.2 million in 2022, is forecasted to expand at a robust compound annual growth rate (CAGR) of 24.06%. This impressive growth trajectory is anticipated to elevate the market's valuation to $1,409.5 million by the end of 2033. Key factors contributing to this surge include the escalating demand for autonomous driving technologies and the integration of semi-autonomous and autonomous vehicles into public transport.

Highlights of the Thermal Management Market for ADAS:

  • Passenger vehicles continue to lead the segment within the ADAS market, attributed to significant investments in autonomous driving research and development.
  • The internal combustion engine vehicles segment shows considerable growth potential; however, electric vehicles are projected to dominate in the long term due to the global shift towards electric mobility and their growing inclusion of ADAS features.
  • Semi-autonomous vehicles emerge as a major segment, underpinned by the automotive industry's rapid advancement towards higher levels of vehicular autonomy.
  • Camera sensors are classified as the predominant sensor segment in the market, playing a critical role in the ADAS functionality for object detection and lane monitoring.

In the latest analysis, the Asia-Pacific region is identified as the leading contributor to market growth, supported by a strong manufacturing base and rising sales of semi-autonomous vehicles. Furthermore, burgeoning markets worldwide, particularly in emerging economies, are poised to offer significant growth opportunities due to increasing demands for safe and efficient transportation.

Recent Strategic Developments:

  1. Product Innovations: Top industry players have introduced groundbreaking materials designed to enhance heat dissipation for electronic components inherent in ADAS, underscoring the commitment to innovation.
  2. Global Expansions: Market leaders have extended their presence internationally, establishing new production sites to cater to the growing demand for silicones in automotive applications.
  3. Regulatory Advancements: With regulations evolving to facilitate autonomous mobility, the market is poised to unlock new opportunities, further driving demand and sales of autonomous vehicles.
  4. Industry Collaborations: Partnerships and agreements continue to shape the competitive landscape, empowering companies to consolidate their market positions and harness technological advancements.

Key Attributes

Report AttributeDetails
No. of Pages159
Forecast Period2023 - 2033
Estimated Market Value (USD) in 2023$0.16 Billion
Forecasted Market Value (USD) by 2033$1.4 Billion
Compound Annual Growth Rate24.0%
Regions CoveredGlobal

Companies Mentioned

  • 3M
  • DuPont
  • Dow
  • Avient Corporation
  • Momentive
  • PARKER HANNIFIN CORP.
  • bdtronic
  • Henkel AG & Co. KGaA
  • Wacker Chemie AG
  • MG Chemicals

For more information about this report visit https://www.researchandmarkets.com/r/w1jxgp

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

 
Global Thermal Management Market

Contact Data